Betting on Petrol Prices has Completly Flipped And Now 99% Sure to Hit Record Levels

Betting on Petrol Prices has Completly Flipped And Now 99% Sure to Hit Record Levels
Steve Madgwick
Steve Madgwick Editor-In-Chief

I've spent over 20 years inside the betting industry. I'll guide you to avoid the hype, ignore the noise, and steer clear of the common pitfalls that catch out everyday punters.

  • Diesel Already hit Record Highs - Petrol to follow
  • Only 30% chance with bookmakers in September that record high would be hit
  • 142.7p is the record bar with some reports the price is already being charged.
Betting odds on Petrol Prices hitting records highs have flipped since September when you could have bet £100 to win £250 that record highs would be seen before the end of the year. Now it looks 97% certain they will.
Steve Madgwick - Senior Editor - OLBG.com

Back at the end of September we reported that some bookmakers were offering odds on whether a record high would be seen for petrol prices at the pumps.

At the time the odds on record highs being reached were just 30% or around 5/2 in betting odds terms. Anyone betting £100 on that outcome would get £350 back should the record be broken.

Enough to buy a couple of full tanks at least.

As November is upon us things have completely switched around following Diesel prices hitting all time high with petrol expected to follow, and now bookmakers are so sure records will be broken that they have stopped taking bets on record-high prices, with a probability of 97.09% and odds of 1/33

That betting £33 to win £1

Petrol Price Betting Odds

Will the average petrol pump prices surpass the all-time high of 142.7p per litre at any point in 2021?

Yes or No Odds Probability
Yes 1.03 (33/1) 97.09%
No 31 (30/1) 3.33%

Switch

The odds were totally reversed back in September and this chart displays how those probabilities have completely turned around from No being the favoured outcome to Yes being almost certain now.

With Diesel prices already hitting record-high levels bookmakers have shortened the odds significantly on petrol doing the same.
Steve Madgwick - Senior Editor - OLBG.com

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